EU offers Ukraine its own agreement on rare earth metals: what is known

The EU (European Union) has apparently offered Ukraine a deal to supply 21 out of 30 rare earth metals, without requiring any resources in exchange for the assistance. The United States, on the other hand, is offering the deal in exchange for significant financial concessions from Kyiv. At the same time, the European Commission assures that it has not put forward any new "resource" proposals for Ukraine.

According to Politico, Ukrainian officials were allegedly informed of the deal by EU Industry Commissioner Stephane Sejourne. According to the publication, the offer was made during his visit to Kyiv, dedicated to the third anniversary of Russia's full-scale invasion.

The European Union, according to Politico, claims that its proposal has added value because Brussels is not demanding that Ukraine conclude a deal that would be unfavorable to Kyiv. This is in contrast to the US position, where the Donald Trump administration has imposed tough conditions on Ukraine regarding the rights to its natural resources in exchange for support in the war with Russia. According to the New York Times, Washington is demanding that Kyiv give up $500 billion in revenues from minerals, oil, gas, and ports.

At the same time, later on February 25, European Commission spokesman Thomas Rainier said that the EU had not offered Ukraine a new deal on critical materials that would be "more favorable" than the American one. According to Rainier, since 2021, Ukraine and the EU have already had a memorandum on resources, and Sejourne simply"reaffirmed the commitment to implement this memorandum."

Ukraine is one of the key sources of strategically important minerals in Europe. According to Prime Minister Denys Shmyhal, the country has:

• the largest lithium reserves in Europe, which is critical for the production of batteries and electric vehicles;
• significant deposits of titanium, which can replace Russian supplies to the European defense industry;
• the largest uranium reserves on the continent, which will contribute to the development of nuclear energy in the EU.

Shmyhal emphasized that Ukraine is ready to create joint ventures with European companies to develop these resources, which will benefit both sides. President of the European Council Antonio Costa said that the EU would not demand any resources from Ukraine in exchange for assistance.

The restoration of Ukraine and its further membership in the EU could become an important factor in the economic consolidation of Europe. It is expected to attract hundreds of billions of euros of investment and create new businesses and jobs both in Ukraine and in the EU.

As OBOZ.UA reported earlier, Ukraine and the United States have entered the final phase of negotiations on the minerals agreement. The Ukrainian side characterizes the negotiations as constructive.

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